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California lawmakers approved a budget on Wednesday that slashes spending and temporarily raises taxes on some businesses to close an estimated $46.8 billion budget deficit. It's the second year ...
California Democratic lawmakers and Gov. Gavin Newsom on Saturday announced a budget deal to close a roughly $47 billion shortfall following weeks of disagreement over spending priorities.
Newsom's plan to close the deficit relies on $17.3 billion in savings from budget cuts he and lawmakers agreed to in April and using $4.2 billion from the state's rainy day fund and budget ...
Gov. Gavin Newsom and Democrats in the California Legislature reached a deal to solve the budget deficit for the 2024-25 fiscal year. Newsom, lawmakers use cuts, reserves and 'fiscal emergency ...
The budget will provide spending for the 2024-25 fiscal year, which will begin Monday. Gov. Gavin Newsom signs California budget to close major deficit and provide spending for year Skip to main ...
Democratic lawmakers and Gov. Gavin Newsom are scrambling to lessen California's budget deficit, which Newsom estimated at $37.9 billion in January.
California's current budget tops $300 billion, the largest by far of any state. Newsom and the state Legislature now must come up with a plan to cover this deficit.
The 2024-25 deficit is more than double what the deficit was last year. California has a $68 billion deficit. Here are 5 ways Gavin Newsom could address the budget